INSURANCE NEWS
Global Insured Catastrophe Losses Fall to Lowest 9-Month Level Since 2019: Report
Global insured losses from natural catastrophes reached US$92 billion during the first nine months of 2026, 29% below the 10-year average (US$128 billion) and the lowest year-to-date insured loss total since 2019, according to Gallagher Re. The insurance industry has …
23andMe Reaches $6 Million Settlement Over Data Breach, Genetic Information
Chrome Holding Co., formerly 23andMe, reached a $6 million settlement to resolve allegations that the genetic testing company failed to protect personal information and genetic data of customers in a 2023 data breach. The 2023 data breach affected nearly 7 …
Storm Austen Will Be Stronger Than Forecast Along UK Coasts
Britain’s first named storm of the autumn will be stronger than previously thought when it sweeps across the country later this week. Gusts from Storm Austen may reach 80 miles (129 kilometers) per hour in coastal areas, equivalent to a …
Global Commercial Insurance Rates Drop 5% in Q3; Signs of Stabilization
Commercial insurance rates fell globally for the ninth straight quarter during the third quarter of 2026. According to the latest Global Insurance Market Index released by Marsh, global commercial insurance rates fell, on average, by 5% in Q3. This followed …
New Jersey Food Importer Sues to block Trump’s Canada Tariffs
US food importer Gellert Global Group on Tuesday sued to stop the Trump administration’s latest tariffs on imports from Canada, saying the duties represent another attempt to claim presidential tariff power that has been rejected in court. Republican President Donald …
Sally Yates Vows Independent Review of Cornell Sex Assault Case
Former US Deputy Attorney General Sally Yates pledged to conduct an independent investigation into Cornell University’s handling of sexual assault allegations, including a 2024 case involving a fraternity at the Ivy League school in New York. Yates, a partner at …
NJM Insurance Inks Brand Partnership with UConn Huskies
UConn Athletics and Learfield’s UConn Sports Properties announced a new brand partnership with NJM Insurance Group, a Mid-Atlantic region insurer. The multi-year partnership includes game day visibility during all University of Connecticut men’s and women’s basketball home games. In addition, …
Cyberattack Hits India’s Largest Bank, Exposes Customer Data
State Bank of India, the country’s largest lender by assets, has launched a probe after a suspected cyberattack exposed thousands of customer records containing personal information onto the dark web. SBI is investigating the breach after a preliminary analysis identified …
EU Cyber Agency Warns Websites May Go Dark as PHP Prepares Critical Fix
The developers of the widely used PHP programming language said on Wednesday they would release patches for two critical vulnerabilities, as EU cybersecurity officials warned organizations unable to apply the fixes should take affected websites offline. PHP is used across …
French Supermarket Hack Exposes Cyber Vulnerabilities in Retail
When Jérémy Béziaud arrived last Monday at the Intermarché supermarket he manages in France’s Normandy region, he found freezers heating at 40C and a cold room ventilator for fish that had risen to 70C. Monitoring teams had alerted Béziaud to …
EU Officials Propose Guardrails for Insurers Participating in Unfunded SRTs
The European Union is considering strengthening the rules around a riskier form of insurance provided to the banking sector, as part of an upcoming package to broadly ease access to securitized finance. Insurers participating in so-called unfunded significant risk transfers …
WR Berkley CEO Shares Insights on AI Adoption During Q3 Call
W.R. Berkley Corp. Chairman, President and CEO W. Robert Berkley, Jr. chose the third quarter of 2026 to enlighten analysts on the insurer’s journey parallel to society’s breakneck adoption of technological advances and its effect on the economy. “My colleagues …